Mang Panday wants to determine the taxability of the foregoing. How much is the total amount of passive income which is subject to final tax?*

2 points

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Mang Panday, a resident citizen taxpayer approached you and presented the following- Description Basic salary Overtime, holiday pays, honorarium and other allowances Non-taxable compensation (not included in the above) Rental income on his apartment for lease Royalty earned from the sale and distribution of his books- Local Dividend earned on his stocks from San Mig, Inc., a domestic corporation Gross income from a "sideline" store business Interest income earned from his banks savings account-Local banks Gross income from online selling of plants Income from the sale of his old car Income from the sale of a farm land he inherited years ago 2020 P800,000 130,000 90,000 150,000 500,000 30,000 70,000 10,000 90,000 40,000 400,000 Mang Panday, a resident citizen taxpayer approached you and presented the following- Description Basic salary Overtime, holiday pays, honorarium and other allowances Non-taxable compensation (not included in the above) Rental income on his apartment for lease Royalty earned from the sale and distribution of his books- Local Dividend earned on his stocks from San Mig, Inc., a domestic corporation Gross income from a "sideline" store business Interest income earned from his banks savings account-Local banks Gross income from online selling of plants Income from the sale of his old car Income from the sale of a farm land he inherited years ago 2020 P800,000 130,000 90,000 150,000 500,000 30,000 70,000 10,000 90,000 40,000 400,000

Answer rating: 100% (QA)

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